Gold is the New Toilet Paper

Forget squeezable Charmin, where’s the gold?

The Wall Street Journal reports that two groups –survivalists seeking tangible wealth to use as barter when their ammunition runs out and investors seeking inflation protection – are threatening to make gold bars as scarce as Clorox wipes. Ability to supply bullion has been reduced by the COVID-19 crisis.

“When people think they can’t get something," says a gold trader, "they want it even more.”

The King Who Disinherited Himself

Think the British royal family has problems, what with Andrew, Harry and Meghan? For big time royal troubles, look to Spain.

King Felipe VI has disinherited himself. He’s seeking distance from a scandal involving his father’s offshore wealth, which may represent kickbacks from Saudi Arabia.

Lemonade from lemons

Don't let a market crash go to waste, say the estate planners at Leimberg.  Lower stock prices make this the perfect time for intra-family taxable gifts, or for converting a traditional IRA to a Roth IRA at a lower tax cost.

Trouble is, with this much market volatility the accuracy of any projections of tax savings are suspect.

Celebrity Ads Promote Investment Scam

This European investment scam, promoted with online ads featuring Hugh Jackman and other celebrities, has already reached Australia, so U.S. investors and their advisers should take note. Forewarned is forearmed.

From The Guardian’s report:

British and Australian victims of a sophisticated enterprise were apparently lured by fake ads posted on Facebook and mobile phone games featuring celebrities such as Gordon Ramsay, Hugh Jackman and the moneysaving expert Martin Lewis. 

After responding to the ads, the whistleblower alleges that unsuspecting victims were contacted by call-centre workers operating in a building in the heart of Kyiv’s business district, promising lucrative investment opportunities.

But the investments in bitcoin, commodities and foreign currencies all appear to be fake, as do the follow-up calls from companies telling victims that they could help them recover the losses.

P.S. Martin Lewis, the money expert, just issued a timely tip: In this year of coronavirus, vacationers really need travel insurance.